NGX earns N339bn as investors purchase dip – Report

Bisola David
Bisola David
Bears dominate on NGX as stocks lose N518bn

The Nigerian Exchange ended Wednesday’s trading session in the black as stocks reversed a two-day bearish trend to gain N339 billion.

The Times reported that the local stock exchange has experienced a 2-day decline as shares reacted poorly to the FTSE Russell rating news.

The gains from Transcorp and NASCON propelled Wednesday’s resurgence in the stock market.

The All-Share Index closed at 67,378.88 index points, up 0.93% from the 66,760.20 index points it had at the end of the previous trading day.

Additionally, the market value of shares increased by N339 billion to settle at N36.877 trillion, up +0.93% from the N36.538 trillion registered in the previous trading session.

As Courtville (-10.00%) led losers and Dangote Sugar (10.00%) led gainers during today’s session, Oando was the most actively traded equity by volume.

With gains of +10.00% apiece, Dangote Sugar, NASCON, and NAHCO were at the top of the list of gainers.

Courtville, ABC Transport, and Tantalizer, which each lost -10.00%, -9.80%, and -9.30%, respectively, were at the top of the list of top losers.

As opposed to the previous day’s session, when 645.54 million shares were moved, today’s volume of trading was lower at 539.63 million units.

Oando topped the volume list with 143.44 million units traded. The top 3 traded equities for today were COMPANY (63.56 million) and Fidelity Bank (39.55 million).

Oando (N1.39 billion) led the list in terms of value traded, with Access Holdings (N1.07 billion) and UBA (N464.55 million) rounding out the top three.

Shares of companies with market capitalizations greater than $1 trillion (swoot) performed differently as Zenith Bank (0.74%) and GTCO (6%) both had successful trading days.

BUA Cement, BUA Foods, Seplat Energy, MTN Nigeria, Dangote Cement, and Airtel Africa all experienced flat closing prices at the same time.

Shares of Tier 1 banks experienced a mixed trading session, with positive closing percentages for GTCO (6%), UBA (9.78%), Zenith Bank (0.74%), and Access Holdings (9.77%) and negative closing percentages for FBN Holdings (-0.28%).

Below are the market indices for today’s trading session:

NGX ASI: 67,378.88 points

% Day Change: +0.93%

% YTD: +31.47%

Market Cap: N36.877 trillion

Volume Traded: 569.63 million

Value: N8.70 billion

Deals: 8,404

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